GILT TECHS: (Z4) Bear’s Remain In The Driver’s Seat

• RES 4: 97.23 High Oct 22      
• RES 3: 96.65 High Oct 30
• RES 2: 95.50 20-day EMA  
• RES 1: 94.73 High Nov 1            
• PRICE: 92.82 @ Close Nov 6
• SUP 1: 72.53 Low Nov 6                
• SUP 2: 92.23 2.236 proj of the Sep 17 - 30 - Oct 1 price swing
• SUP 3: 92.00 Round number support 
• SUP 4: 91.75 2.3821 proj of the Sep 17 - 30 - Oct 1 price swing

A bearish condition in Gilts remains intact. The contract has recently traded through the 94.00 handle and once again traded lower, yesterday. 92.99, a 2.00 projection of the Sep 17 - 30 - Oct 1 price swing has been breached. This signals scope for an extension towards 92.23, a Fibonacci projection. The Oct 30 high of 96.65, is seen as a key S/T resistance where a break is required to highlight a possible base. Initial resistance is 94.73, Nov 1 high.